I hear from a source who seemed pretty sure that 114 Franklin—the entire building—has been purchased by the owner of Thalassa, two blocks away. His plan is to turn the restaurant on the ground floor (most recently Theater Bar, and before that, Grace) into an Italian restaurant, or maybe it was Italian with a dash of Greek. I emailed two contacts at Thalassa, but I have yet to hear back.

StreetEasy shows no record of the building’s sale, but the commercial space was purchased this past July by Crosstown Realty Holdings of Long Island City; the price was $5.8 million.